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Chalco Raises Alumina Price for Third Time This Year

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BEIJING, Aug. 3 -- Aluminum Corp. of China Ltd., the country's largest maker of the light metal, raised the spot price of alumina for a third time this year as demand recovered.
&nbsp;&nbsp;&nbsp; The price was increased 4.3 percent to 2,400 yuan ($351) a metric ton from July 31, the first gain since April 1, according to a table on the Web site of the Beijing-based company known as Chalco.
&nbsp;&nbsp;&nbsp; Aluminum futures in Shanghai have jumped 19 percent since April 1, prompting smelters to restart idled capacity and boosting demand for alumina, a raw material. China's 4 trillion yuan stimulus spending is boosting usage of the metal in automobiles and real estate.
&nbsp;&nbsp;&nbsp; &quot;Chinese aluminum smelters are accelerating the pace of restarts because they are no longer in the red and are making really good profits at the current price,&quot; said Wan Ling, Beijing-based analyst at CRU International Co.
&nbsp;&nbsp;&nbsp; Chalco rose 3.4 percent to 20.31 yuan at 2:34 p.m. in Shanghai trading. In Hong Kong, the stock gained 6.2 percent to HK$9.58. The most actively traded aluminum contract fell 0.9 percent to 15,015 yuan a ton at 2:36 p.m. on the Shanghai Futures Exchange.
&nbsp;&nbsp;&nbsp; China's official Purchasing Managers' Index rose to a seasonally-adjusted 53.3 in July from 53.2 in June, the Federation of Logistics and Purchasing said in a statement over the weekend. A reading above 50 indicates an expansion.
&nbsp;&nbsp;&nbsp; Chinese aluminum smelters, the largest in the world, have restarted more than 2 million tons of smelting capacity and a further 4 million tons may still be idle, Wang Feihong, analyst at a unit of China Minmetals Corp., the country's biggest metals trading company, said July 2.
&nbsp;&nbsp;&nbsp; (Source: Bloomberg) 
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[Minor metal] Domestic Selenium Prices Remain Firm

Chalco Raises Alumina Price for Third Time This Year | Shanghai Non ferrous Metals

Chalco Raises Alumina Price for Third Time This Year

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